Veterinary Point-of-Care (POC) Diagnostics Market Size and Growth Rate:

“The Global Veterinary Point Of Care Diagnostics Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over next seven years 2019-2025 due to increasing animal healthcare expenditure”

Veterinary Point-of-Care (POC) Diagnostics Market Growth Drivers and Restraints:

Some of the key factors influencing the market growth include growing number of veterinary physicians, encouraging regulatory scenario and increasing animal healthcare spending, rising demand for quick tests, growing acceptance of rapid diagnostic tools by veterinary doctors and increased numbers of in-clinical diagnostic methods. However, limited healthcare centers for animals and economic uncertainty are the major factors hindering the market growth. In addition, growing awareness regarding animal health in developing economies provides huge growth opportunity for the market.

Global veterinary point of care diagnostics market segmented on the basis of product, application, animal, distribution channel and region.

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Hematology dominate the Veterinary Point-of-Care (POC) Diagnostics Market:

Based on application, global veterinary point of care diagnostics market is hematology, infectious diseases and others. Hematology held considerable market growth during estimated period. A major advancement in veterinary medicine is the use of laboratory tests for diagnosing and managing animal’s health and disease. Today’s veterinary clinicians often have the choice of performing many tests in their own internal laboratory or sending their samples to several external veterinary reference laboratories. In the past few years, several small hematology analyzers were introduced for point-of-care testing (POC) purposes. The POC hematology analyzers can be used for the same purposes as centralized systems.

North America Leads the Veterinary Point-of-Care (POC) Diagnostics Market:

PBI’s global veterinary point of care diagnostics market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global veterinary point of care diagnostics market with considerable CAGR. The growth in this region can be attributed to high healthcare spending for animals with positive healthcare structure. Also, existence of large number of commercial players and well-established infrastructure is other factor responsible for market growth. Further, Asia Pacific held considerable market share during predicted period owing to the growing investments on research & development and existence of emerging countries China and India.
 
Strategic New Product Launches are the Key Strategies Adopted by Market Players

Global veterinary point of care diagnostics market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in Jan 2019, IDEXX Laboratories, Inc. launched Catalyst One and Catalyst Dx analyzers, an in house testing method for the detection of progesterone levels in dogs.

Key player’s profiles in the report are IDEXX Laboratories (U.S.), Abaxis (U.S.), Biogal, Galed Labs. Acs Ltd. (Israel), Bionote, Inc (Republic of Korea), Diagon (Hungary) and LifeAssays AB (Sweden).

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Detailed Segmentation of Veterinary Point-of-Care (POC) Diagnostics Market:

By Product
o Diagnostic Test Kits
o Analyzing Instruments
o Others

By Application
o Hematology
o Infectious Diseases
o Others

By Animal
o Dogs
o Cats
o Bovine
o Swine
o Equine
o Others

By Distribution Channel
o Veterinary hospitals
o Veterinary clinics
o Others
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